Gas

NFE and Apollo Funds Complete $2 Billion LNG Maritime Joint Venture, Establishing Energos Infrastructure

Retrieved on: 
Monday, August 15, 2022 - 10:00pm

The Platform has been named Energos Infrastructure (Energos) and is owned approximately 80% by Apollo-managed funds and 20% by NFE.

Key Points: 
  • The Platform has been named Energos Infrastructure (Energos) and is owned approximately 80% by Apollo-managed funds and 20% by NFE.
  • View the full release here: https://www.businesswire.com/news/home/20220815005676/en/
    Apollo and NFE have additionally announced the Energos executive team, led by newly-appointed Chief Executive Officer Arthur Regan.
  • Regan is a veteran maritime industry Chief Executive and Apollo operating partner, having established and led both publicly-traded and private equity-owned maritime enterprises over the past three decades.
  • Energos is a global marine infrastructure platform underpinned by long-term contracts, benefitting from NFEs LNG downstream operations and development activities, as well as Apollos leading investment and maritime experience.

NOG Announces Closing of Williston Basin Bolt-on Acquisition

Retrieved on: 
Monday, August 15, 2022 - 9:15pm

Northern Oil and Gas, Inc. (NYSE: NOG) (NOG) today announced the closing of its previously announced acquisition of non-operated Williston Basin assets from a private seller.

Key Points: 
  • Northern Oil and Gas, Inc. (NYSE: NOG) (NOG) today announced the closing of its previously announced acquisition of non-operated Williston Basin assets from a private seller.
  • NOG continues to execute as the natural consolidator of non-operated properties, commented Nick OGrady, NOGs Chief Executive Officer.
  • NOG closed the Williston Basin acquisition on August 15, 2022.
  • The closing cash settlement is net of preliminary and customary purchase price adjustments and remains subject to final post-closing settlement between NOG and the seller.

Phoenix Motor Inc. Announces Second Quarter 2022 Financial and Operational Results

Retrieved on: 
Monday, August 15, 2022 - 9:25pm

Phoenix Motor Inc. (Nasdaq: PEV) (Company or Phoenix), a leader in manufacturing of all-electric, medium-duty vehicles, today announced its financial results for the second quarter ended June 30, 2022.

Key Points: 
  • Phoenix Motor Inc. (Nasdaq: PEV) (Company or Phoenix), a leader in manufacturing of all-electric, medium-duty vehicles, today announced its financial results for the second quarter ended June 30, 2022.
  • Phoenix Motor will host a conference call today at 5:00 PM ET to discuss the results.
  • Phoenix operates two primary brands, Phoenix Motorcars focused on commercial products including medium duty EVs, chargers and electric forklifts, and EdisonFuture which intends to offer light-duty EVs.
  • For the three and six months ended June 30, 2022 and June 30, 2021

USD Partners to Attend 2022 Citi Investor Conference in Las Vegas

Retrieved on: 
Monday, August 15, 2022 - 9:26pm

USD Partners LP (NYSE:USDP) (the Partnership) announced today that members of its senior management team will participate at the 2022 Citi One-on-One Midstream/Energy Infrastructure Conference, on August 16 and August 17, 2022.

Key Points: 
  • USD Partners LP (NYSE:USDP) (the Partnership) announced today that members of its senior management team will participate at the 2022 Citi One-on-One Midstream/Energy Infrastructure Conference, on August 16 and August 17, 2022.
  • The related presentation materials will be made available on the Partnerships website in advance of the conference at www.usdpartners.com on the Events & Presentations sub-tab under the Investors tab.
  • USD Partners LP is a fee-based, growth-oriented master limited partnership formed in 2014 by US Development Group, LLC (USD) to acquire, develop and operate midstream infrastructure and complementary logistics solutions for crude oil, biofuels and other energy-related products.
  • USD, which owns the general partner of USD Partners LP, is engaged in designing, developing, owning, and managing large-scale multi-modal logistics centers and energy-related infrastructure across North America.

Crane Holdings, Co. Announces Transaction to Divest Legacy Asbestos Liabilities

Retrieved on: 
Monday, August 15, 2022 - 9:30pm

The transaction indemnifies Crane for all legacy asbestos liabilities.

Key Points: 
  • The transaction indemnifies Crane for all legacy asbestos liabilities.
  • Max Mitchell, Crane President and Chief Executive Officer stated: Todays announcement provides finality and certainty to investors regarding asbestos obligations, and it removes the distraction of asbestos related risks.
  • As a result of the transaction, Crane has removed all asbestos obligations and liabilities, related insurance assets, and associated deferred tax assets from the companys consolidated balance sheet.
  • Spruce Lakes capabilities extend to various types of legacy liabilities, but with a particular focus on asbestos related exposures.

Trace Capital Management, Formerly Denham Capital’s Energy Resources Investment Platform, Announces Newly Formed Energy Focused Investment Manager

Retrieved on: 
Monday, August 15, 2022 - 3:53pm

Trace Capital Management (Trace) announced today that it has been formed via the lift out of Denham Capitals Energy Resources investment program - its active funds, people and associated infrastructure - into a newly created energy focused SEC registered investment advisor.

Key Points: 
  • Trace Capital Management (Trace) announced today that it has been formed via the lift out of Denham Capitals Energy Resources investment program - its active funds, people and associated infrastructure - into a newly created energy focused SEC registered investment advisor.
  • Trace generates market leading energy returns by prioritizing management team edge, asset level diligence and discipline, portfolio construction and risk management.
  • Jordan Marye, Traces Managing Partner said, We are excited to form Trace Capital in a moment of great change and opportunity in the global energy landscape.
  • About Trace: Trace Capital Management (Trace) is a proven and pragmatic energy investor focused on value and growth investments across the global energy landscape, with a particular focus on energy infrastructure, upstream oil and gas and viable low/no carbon opportunities.

PMT Group adds 30,000 sq ft for Magnetic Material and Lightweight Metal Production

Retrieved on: 
Monday, August 15, 2022 - 4:00pm

PMT Group and subsidiaries are adding 30,000 sq ft of additional space to expand of its specialty metals production and fabrication facilities.

Key Points: 
  • PMT Group and subsidiaries are adding 30,000 sq ft of additional space to expand of its specialty metals production and fabrication facilities.
  • This 30,00 sq ft includes an expansion of Terves dissolvable magnesium extrusion facility, and 24,000 sq ft of new construction to house the expanded magnetic materials and lightweight sheet and foil production .
  • The 24,000 sq ft expansion will significantly accelerate the commercialization of Made-in-USA rare-earth free magnets.
  • PMT Group is a nationally recognized nanotechnology, advanced materials and electrification technology incubator that has led the creation of 8 spinout companies, including two exits.

Audubon Engineering Company Celebrates 25th Anniversary

Retrieved on: 
Monday, August 15, 2022 - 3:00pm

Audubon Engineering Company LLC (Audubon) is commemorating 25 years since its founding in August 1997.

Key Points: 
  • Audubon Engineering Company LLC (Audubon) is commemorating 25 years since its founding in August 1997.
  • The trio graduated from Louisiana State Universitys College of Engineering in the mid-1980s and later worked together at an engineering company in New Orleans.
  • In August 1997, Audubon was born with the vision of becoming the largest engineering company in New Orleans.
  • Audubon Engineering Company LLC is a portfolio of affiliate companies providing engineering, consulting, construction, fabrication, cybersecurity, and technical field services to the energy, power, infrastructure, and industrial markets.

Equinox Partners Announces Investment Stewardship Policy to Improve Board Governance in Mining

Retrieved on: 
Monday, August 15, 2022 - 2:00pm

Equinox Partners Investment Management, LLC, a long-term value investor, today announced its new investment stewardship policy toward directors of public companies.

Key Points: 
  • Equinox Partners Investment Management, LLC, a long-term value investor, today announced its new investment stewardship policy toward directors of public companies.
  • Equinox Partners estimates that as a result of this policy it will vote against approximately 10% of the board-slate candidates in the 2023 proxy season.
  • (Equinox Partners Q2 Letter)
    Equinox Partners, headquartered in Connecticut is a long-term value investor with a large weighting in precious metals miners.
  • Equinox Partners high conviction approach to fundamental investing involves a strong, active focus on corporate governance.

Crestwood Announces Leadership Promotions

Retrieved on: 
Monday, August 15, 2022 - 2:00pm

Crestwood Equity Partners LP (NYSE: CEQP) (Crestwood) announced today a series of executive leadership promotions, effective immediately.

Key Points: 
  • Crestwood Equity Partners LP (NYSE: CEQP) (Crestwood) announced today a series of executive leadership promotions, effective immediately.
  • Mr. Black has been with Crestwood since 2014, most recently serving as Senior Vice President, Finance since 2019.
  • Prior to joining Crestwood, Mr. Black held positions at First Reserve and Citi.
  • His leadership, work ethic, financial acumen and strength of character perfectly embodies the culture we have worked so hard to build at Crestwood over the past twelve years.